Ted Wheeler OREGON STATE TREASURER

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About Treasury

Overview

The Office of the State Treasurer is a highly sophisticated organization with a wide range of financial responsibilities, including managing the investment of state funds, issuing all state bonds, serving as the central bank for state agencies, and administering the Oregon 529 College Savings Network. The Treasury is managed like a business, striving to save taxpayers money and earn the highest possible return on investments.

Lockbox

A lockbox is a collection system in which a bank or third party receives, processes and deposits an agency’s mail receipts. Mail is generally delivered to a specific post office box where the bank or third party picks up the mail several times daily and delivers it to its lockbox area. The mail is immediately sorted, opened, and processed in a highly secure environment.

A lockbox is a highly efficient mail receipt processing operation. Lockbox operations have significant capital investments in advanced technology and maintain flexible staffing capabilities to match volume fluctuations. This enables the lockbox operation to process all receipts the same day as received and to make multiple deposits each day to meet major check-clearing deadlines, thus ensuring the best availability of funds.

Treasury administers a master agreement with a bank to provide both retail and wholesale lockbox services. Several boards and commissions use lockbox services to collect license fees. Other agencies use the lockbox services for tax remittances, loan repayments, and other types of fees.

Treasury will help agencies coordinate the setup of lockbox services. If you believe you may have applications or programs which may benefit from the use of a lockbox service or if you have further questions, contact a member of the Treasury Management Services (TMS) team.